first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The August update for the Pro Teck Valuation Services’ Home Value Forecast (HVF) showed that the U.S. housing market with the highest year-over-year price change in July was Detroit – but at the same time, the authors of the report believe that more than one indicator must be used to evaluate the housing market’s health.According to the August HVF update, Detroit led all U.S. housing markets in year-over-year sold price with 28 percent. When considering other indicators, however, Detroit is not as strong a market as it would appear based on the spike in sold price. The Collateral Analytics forecast for the top U.S. housing markets rated San Francisco as “strong” largely because its home prices are at an all-time high. However, that same forecast rated Detroit as a “soft” market mainly due to home prices in that market trying to return to pre-crisis levels.”While Detroit has seen healthy gains this year, the Home Value Forecast rating system shows that Detroit is still a soft market,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “Although examining one indicator is helpful, it’s important to analyze several home price indicators to best understand the health of a real estate market.”Similar to Detroit, Port St. Lucie, Florida, has seen significant gains in the housing market in the last year. However, home prices in Port St. Lucie are selling 30 percent below previous highs and foreclosure sales are still more than three times their post-crash levels, which earned the market a “soft” condition rating in the August HVF update, according to Pro Teck.”Although examining one indicator is helpful, it’s important to analyze several home price indicators to best understand the health of a real estate market.” —Tom O’Grady, CEO of Pro Teck Valuation Services.The August update to the HVF includes a list of the 10 best and worst performing metro areas ranked by market condition for July. The indicators used in the rankings include sales/listing activity and prices, months of remaining inventory, days on market, sold-to-list price ratio, and foreclosure percentage and REO activity.The best performing single-family housing markets for July were:Bellingham, WashingtonCheyenne, WyomingMt. Vernon-Anacortes, WashingtonOlympia-Tumwater, WashingtonSacramento-Roseville-Arden-Arcade, CaliforniaSan Antonio-New Braunfels, TexasSan Jose-Sunnyvale-Santa Clara, CaliforniaSanta Rosa, CaliforniaSeattle-Bellevue-Everett, WashingtonStockton, California”The West Coast continues to dominate the top ten markets, with the exception of San Antonio,” O’Grady said. “Also, looking at our top three for the month using Collateral Analytics Forecast, we see Bellingham, Cheyenne, and Mt. Vernon at or near all-time highs with forecasted continuing appreciation.”The worst performing markets were:Huntsville, AlabamaSyracuse, New YorkScranton-Wilkes Barre-Hazleton, PennsylvaniaMcAllen-Edinburg-Mission, TexasAtlantic City-Hammonton, New JerseyBaltimore-Columbia-Towson, MarylandHagerstown-Martinsburg, Maryland-West VirginiaJacksonville, FloridaJacksonville, North CarolinaRockford, Illinois August 20, 2015 1,232 Views Housing Markets are Strongest Where Values Exceed Pre-Crisis Levels The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Home value Forecast Home Values Pro Teck U.S. Housing Market About Author: Brian Honea Home / Daily Dose / Housing Markets are Strongest Where Values Exceed Pre-Crisis Levels Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img in Daily Dose, Featured, Market Studies, News  Print This Post Home value Forecast Home Values Pro Teck U.S. Housing Market 2015-08-20 Brian Honea The Best Markets For Residential Property Investors 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Second Fannie Mae NPL Sale Completed for $765 Million Next: Existing-Home Sales Continue Surge While First-Time Buyer Sales Fall Related Articles Subscribelast_img

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